The global automotive lubricant market is estimated to grow at a CAGR of 8.1% from 2014 to 2019. Asia-Pacific holds the largest market share, in terms of value—that is, 52%—and is expected to grow at a CAGR of 8.7% during the forecast period. It is followed by North America and Europe.

To analyze the global automotive lubricant market thoroughly, the report is segmented on the basis of vehicle type, application, and geography. Common vehicle types like passenger cars, light commercial vehicles, and heavy commercial vehicles are used to segregate the market by vehicle type. Three major application segments have been covered, namely, engine oil, transmission fluid, and brake fluid. Regions included in the report are Asia-Pacific, North America, Europe, and RoW.

The light commercial vehicle segment of the automotive lubricant market is estimated to grow at the highest CAGR—that is, 11.3%—from 2014 to 2019.It is followed by the heavy commercial vehicle and passenger car segments. The transmission fluid application segment is growing at the highest CAGR of 9.5% over the forecast period.

The growth of the automotive lubricant market is driven by factors such as the growing demand for light and heavy commercial vehicles, government legislations on automotive lubricants, and increasing vehicle life span. Factors which restrict market growth are the downsizing of engines in passenger cars and changing raw material prices.

The global automotive lubricant market is a competitive market, with a number of global market players. Currently, the market is estimated to be dominated by Royal Dutch Shell PLC (Netherlands), Exxon Mobil Corporation (U.S.), and BP PLC (U.K.). New product launches and partnerships, agreements, collaborations, and joint ventures are the major strategies adopted by most market players to achieve growth in the automotive lubricant market.

The global automotive lubricant market study analyses the demand for automotive lubricants and provides estimates and forecasts for the market, in terms of volume and value. Automotive lubricants help to reduce friction and wear-and-tear in automobiles. They also transfer heat and prevent rust and corrosion. Automotive lubricants are manufactured from base oils. The required properties are imparted to the lubricants by blending base oils with various additives such as viscosity index improvers, dispersants, and detergents. These additives improve fuel efficiency, optimize performance, and reduce the degradation of machinery and equipment. Their major application is in engine oils for automotive and industrial automotive lubricants.

Passenger cars, LCVs, and HCVs are the three major vehicle types for the automotive lubricant market. Passenger cars occupy the largest share. They held a market size, in terms of value, of $2,272.0 million in 2014 and are expected to grow at a CAGR of 6.9% from 2014 to 2019. The LCV segment holds the second-largest share, followed by the HCV segment. Asia-Pacific is the largest automotive lubricant market globally, and is estimated to hold market share, in terms of value, of 50.77% by 2019. It is projected to grow at a CAGR of 8.76% over the forecast period. Asia-Pacific is followed by North America, with a market size, in terms of value of $1,081.7 million in 2014. It is projected to grow at a CAGR of 11.7% from 2014 to 2019. The automotive lubricant market is led by the transmission fluid application segment, which is projected to grow from $2,232.7 million in 2014 to $3,699.7 million by 2019, at a CAGR of 10.6%.

The global automotive lubricant market size, in terms of volume, is expected to grow at a CAGR of 8.1% from 2014 to 2019. The key drivers of the market are the growing demand for LCVs and HCVs, the increasing vehicle parc, and increasing average lifespan of vehicles in operation. Government legislations for automotive lubricant are also contributing to the growth of the market. The volatility in oil prices is restraining the growth of the market. To counter this problem, the industry has shifted its focus towards developing bio-based lubricants and synthetic lubricants. New product launches and product approvals are the key strategies adopted by major players to strengthen their position in the global automotive lubricant market. Moreover, strategies such as partnerships, agreements, collaborations, joint ventures, and acquisitions were also adopted by a significant number of market players to strengthen their product portfolios and to expand their geographic presence. Royal Dutch Shell PLC (Europe), Exxon Mobil Corporation (North America), and BP PLC (Europe) are the key players operating in the global automotive lubricant market.

Custom Market Research Services

We will customize the research for you, in case the report listed above does not
meet with your exact requirements. Our custom research will comprehensively cover
the business information you require to help you arrive at strategic and profitable
business decisions.